All eyes are on the Federal Reserve this week as a two-day meeting gets underway Tuesday. As Wall Street awaits a rate hike timeline from Fed Chair Janet Yellen, one trader is bracing himself for a potential shake-up in the bond market.
"I think Yellen is going to say something that will make interest rates go higher," technical analyst Andrew Keene said Tuesday on CNBC's "Trading Nation."
On a chart of the iShares 20+ Year Treasury Bond ETF, better known as the TLT, Keene noted that the ETF has been in a "bearish trend channel" since hitting its year-to-date high of $138.50 on Jan. 30.
"I would be short here," he said. In the past month the yield on the U.S. 10-year has surged to just under 2.4 percent. This as the TLT, the ETF that tracks longer-dated bonds, is down nearly 3 percent in the same period.